Hellenic pleased with share capital increase completion

The Hellenic Bank has said that the completion of the €150 million share capital increase and the listing of new ordinary shares in the Cyprus Stock Exchange marks “an important milestone for the acquisition of ex Cyprus Cooperative Bank business.”

In a press release the Hellenic Banks says that its NPEs ratio, excluding NPEs covered by the Asset Protection Scheme (APS), has dropped from 52% to 25.6% as at 30 September 2018, while the ratio of Net NPEs, excluding NPEs covered by APS, to assets was reduced from 12% to 4%.

It notes that it has a pro forma CET1 ratio of 17.8% and capital adequacy ratio of 20.4, which are “much higher than minimum requirements, subject to regulatory approvals.”

“Through the acquisition of ex CCB business and the share capital increase, the Bank has substantially strengthened its financial position and banking franchise across Cyprus with an enlarged and diversified customer base,” it says.

The Bank also outlines its shareholders holding more than 5% of the issued share capital of the company as follows:

Shareholder Name

Direct Holding

Indirect Holding

Total Holding

Wargaming Group Limited

20.19%

0.42%

20.61%

Demetra Investment Public Ltd

18.42%

–

18.42%

Poppy SARL

17.30%

–

17.30%

Third Point Hellenic Recovery Fund LP

12.59%

–

12.59%

7Q Invest Ltd – Multi Opportunities

8.83%

–

8.83%

The indirect holding of Wargaming, the Bank clarifies, refers to direct holding in the company of the Provident Fund Executive Directors of Wargaming and the Provident Fund Senior Management Personnel Wargaming.

It also explains that Logicom Services Ltd, which has a direct holding of 0.71% in Hellenic Bank also has a 29.62% holding in Demetra Investment Public Ltd whose holding in the Company is specified in the above table.

It is further noted that 7Q Invest Ltd – Multi Opportunities also holds 5.74% of the issued share capital of Demetra Investment Public Ltd which holds 18.42% of the issued share capital of Hellenic Bank.